I need to file an amended return for 2018 to correctly show depreciation on a rental property first placed in service that year. (Property was inherited and I neglected to use step-up basis for depreciation.) My taxes paid for 2018 included withholding, estimated taxes, and the amount I paid when requesting a filing extension. When I filed my 2018 return in Oct 2019, TurboTax desktop said I still needed to pay about $300 more in taxes plus about $200 in penalties, which I did. In Dec 2019, I got a letter from the IRS saying I owed an additional $8, which I promptly paid. I preparing an amended return now with TurboTax, which says my depreciation correction will not give me a tax refund, which seems odd because that correction reduced rental income by almost $3000. Looking through the various forms and supporting pages for the amended return, I don't see the $300 of taxes I paid in Oct 2019 reflected anywhere. I can live with the $200 in penalties being non-refundable but I can't understand why a $3000 decrease in AGI produces no tax benefit.
